Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
Business
Qatar and Egypt discuss ways to boost economic, trade ties
Doha, Qatar-- Qatar and Egypt are looking to boost trade and economic ties between the two countries, besides exploring ways...
- The Qatar Chamber first vice-chairman said Egypt offers abundant opportunities, which are attractive to Qatari investors
- The Egyptian official said that his country has brought in a host of reforms relating to investment for foreign investors
Business
ADNOC Drilling to expand fleet
The company aims to reach 142 operational rigs this year.
- The company's CEO said that it was looking to support ADNOC's 5 million-barrels-per-day-capacity target
- It has assembled one of the largest multi-disciplined fleets in the world, backed by the latest innovations
Business
Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.
- The buying of stake in the airline is expected to mark a significant stride towards diversifying Ghitha Holding’s robust portfolio
- The Turkish airline offers specialized services including scheduled and block space charter, aircraft, crew, maintenance and insurance
IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.
- The company's earnings per share (EPS) witnessed a huge rise, more than doubling from AED 6.81 to AED 12.36
- The group said that its preliminary revenue rose to $16.33 billion, marking an 18% increase from the previous year
Geostrategy
UAE and Jordan leaders discuss boosting economic, investment ties
Amman, Jordan-- The UAE and Jordan have explored opportunities for collaboration in the fields of economy, investment, food security, renewable...
- The two leaders explored new opportunities for collaboration to support the development goals of both countries
- They discussed regional and international issues with a specific focus on the Middle East, in particular the Gaza Strip
Business
Irbid chamber industrial exports up
The value of certificates of origin issued stood at US$65m.
- Al-Hassan Industrial Estate, as per ICI's report, took the lead in export volume last month, contributing $59.5 million
- Irbid's exports to the United States accounted for 63.5 percent of the total export volume, exceeding $41.5 million
Economy
GCC ministers hold discussion on food security in the region
Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from...
- The GCC secretary-general said that food security in the GCC countries receives great attention from the leaders of the GCC countries
- He lay stress on involving all sectors of Gulf society, including the government, private sector, and civil society, to tailor the strategy
Business
Exxon Mobil posts bumper profit
The company profit vaulted to US$36bn during the year 2023.
- The company's earnings in the latest quarter still beat estimates and its Chief Executive Darren Woods signaled optimism about the coming year
- The oil giant's results included a $2.5 billion impairment charge for California properties that it has been trying to sell for more than a year
Business
Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.
- The news came as the German bank posted a 30 percent slide in fourth-quarter profit that still beat analyst expectations
- The dividends and the share buyback will cost the bank nearly $1.7bn and will take place during the first half of the year
Business
GCC banks to maintain resilience in 2024, says S&P Global
Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and...
- The UAE and Saudi banking systems are expected to lead the region and credit growth and profitability will remain robust
- The ratings agency however warned that potential risks, including geopolitical tensions and real estate exposure, remain
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
Company News
Ooredoo partners with Dropbox
Business
Latest News
UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K....
Business
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Israeli air strikes in Lebanon’s city of Baalbek kill one
A security source said Israeli aircraft targeted a former Hizbollah building near Dar Al Amal Hospital, adding that Israel "conducted...
Geostrategy
Most Read
Business
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
- Mubadala and G42 will serve as foundational partners in the creation of the new company.
- MGX will invest to accelerate the development and adoption of AI and advanced technologies.
Economy
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
- Al Jaber held several bilateral meetings with Kyriakos Mitsotakis, PM of Greece, George Gerapetritis, Minister of Foreign Affairs, and Kostas Skrekas, Minister of Development
- The two sides discussed means of fostering cooperation within the UAE-Greece CEPA agreement, signed during the visit of the Greek PM's to the UAE in 2020
Business
United Arab Bank elects new chairman
Sheikh Mohammed bin Faisal will now lead the bank.
- The appointment of new chairman reflects the bank's and its shareholders' pledge to be at the forefront of innovation and growth
- He has wide experience of more than 30 years in many industries, including the financial, banking, real estate, and tourism sectors